Negotiable interest-bearing instrument.



Patented Apg. 9,1910.

Il", HANZLIK.,

APLIOATION FILED NOV. B, 1907.

NEGOTIABLB INTEREST BEAMNG IN STRMI'IN T.

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To all whom tt may `concern:

JOHN nDW.-HANZLIK, orvwoivnvvoc, wisooiisin.`

NEGOTAL INTEREST-BEARIG INSTRUMENT.

'Specification of Letters Patent.

Patented Aug. 9,1910.

Application led November 6, i907.A Serial No. 460,990.

Be it known that I, Jol-IN EDWARD Hanz- LIK, a citizen of the United States, residing at 'Woneivod county of Juneau, State or' lVisconsin, have invented a new and useful Negotiable Interest-Bearing instrument, of

" Which the followingis va specification,`

, pon and rlhis invention relates generally to nego- .tiable interest-bearing instruments of obligationLand relates more particularly tol such instruments as embody a negotiable certiiicate of deposit of `a4 given round principalv sum, the instrument bearing date and inten esteamount indicia for indicating the amount of interest-,accruing on the sum deposited for certain periods.

The principal object ofniy invention is to provide an instrument of this type with date indicia so arranged as to indicate at a glance the precise dates of commencement and endings-of successive interest periods, and coinbiningwith such date indicia 'interest' amount indicia arranged to` indicate the accrued interest amounts `at successive interest periods, the date and interest, a-inount indicia -loeingv relatively` arranged, so as to cause the date indicia to serve as an index-to the interest amount indicia. A

A further object is to provide an instrument of the type abovev indicated lwith a detachable coupon'in which the date and interest' amount indibia are arranged insuch manner as to permit the indicia of thecoib t-the instrument to'be placed4 in superposed .relationship `to enable theA selected indicia of lone part'toI be duplicated in `the other part, thereby enabling the coupon to act as'a check on the validi-ty of the instrument. l t l i w Other and urtherobjects of the invention lwill be readily apparent as the invention is hereinafter described.' y y .y

To these and other ends, .my invention con-v sists in the interest bearing certificate of obligation having ,theA structural arrangement hereinafter described,"illustrated inthe accompanying drawings, p and particularly pointed out inthe appended claims. i

In then accompanying drawings,

4 invention with the coi'iponattachedNfy Referringfmore particularly .to p

l designates .the certificate,` and 2i the ings,-` coupon,

annualinteiest pe'rio p date indicatins`, the-view illustrates preferred embodiment i ot; the y the "difatv-y the latter Mbeingdetacliablyconnecte fuient' out .these 'cnnseeutire#nun ed to the certi-cate. The lcertificate has printed thereon such information .ias may be desiredl by vthe issuing. banlnas for instance the amount forivhich the certilicate has been issued-and places for the signatures of the depositor, thepresident, and the cashier of the bank. At the left of this printed matter,

is arranged the date and interest'ainount indicia which torins' aperinanent part of the certicate, and which` serves to control the s monetary or redemption value of 'the certificate at yany predetermined interest period. This .date and' interest amount indicia is reproduced `in'the coupon insuch manner that the coupon may ibe placed in superposed Lrelationship to 'the certiicate and enable simultaneous punching of 'the indicia on both parts, the punching previded-,afselect` ed 4indication or indications duplicated in both structures or'parts. 'As the indicia on both parts isV the saine, it will be necessary only to describe one of them, and for lthis purpose I have employed the vindicia shown fon. thecertificate. The indicia for the certificates may be arranged to meet various conditions. y For instance, the interest periods may loe arranged to provide for semi-annual, quarterly, or other interest dates; for the `purposeot illustrating the manner of use,.

the drawings indicate the arrangement pro vided for semiannual periods.` The interest amountindicia may also be varied, the variations being dependent upon the rate ofin.

tei-est paid -by .the institution `issuing the certificate; for instance, the blank shoivn in` the drawings, is arranged on'a basisof` -a gradually increasing' rate ict interest, the rate increasing" until the niaaiiniuinrate is reached, Vwhich.'rateis then continued during the remainder of the term; obviously the in? terest amounts indicated may bebased'on a -constant'r'ate Without aiiecting the operation 'and use 'of the certificate.

Referring more particularly' tothe .draw-l ing, the' date 'indicia' (which, as heretofore.

pointed out, is arran ed on a loasisof,semis) 'comprises the'month indicated"i atv 6, and` the indicated atv 4a 'and` 5. The

monthlindications Amonth] date indications are arranged at. ,the top ottheindicia'and presentthe dates 1n,- `the form of columns oi'consecutive ruimeralsrun:-4

ir rauiref Miti material, they serving merely yto indicate Where the interest periods are two in number, as indicated in the drawings, two col'- uinns are used, the-first column containing the month names in consecutive order, running from January to -'June,.,both inclusive, while the second column, (indicated at 5) has the month 4naines of the balance of the year consecutively arranged. lVhere the arrangement fis to be in quarterly interest periods, the columns would be four in n'umber, the rst containing the month naines from January to March, both inclusive, the second April to J une, the third July to September, and the'fourth October to December, all inclusive. Should the periods be three -in number, three columns would be provided with the month names arranged in sequence running from the top of the first column to the bottom of that column and then tothe top of the next column, and 3o through that column,v etc., each column having the same number of mont-hs. Obviously th'e same arrangement might be lprovided if the interest periods were bi-monthly, in which case six columns would be provided.

a5 For the purpose of providing fixed points for the ,placing of the seclected indications,

I may place opposite the month named a suitable mark yor indication, suchas indicated 'at 4. By this arrangement of date 40 indicia, a punching of the proper numeral in tl'ieunonth date indicia and the punching of the indication 4 for the proper month,

as for instancethe date of issue of thecer- .ticate, there will be'provided'a punched indication not only of the date of issue, but in addition, the date of the complet-ion or maturity of each interest period, the month date'being the same in each case, while the month is indicated by the horizontal row 504 of month names in which the punched indication therefor is located. A For instance, in the drawing, the punchings are presumed to vhave been made to indicate November 9;

' this date indicates the date of issue and necessarily the date of maturity of the last interest period of the succeeding year, while the month of May, being located on the same horizontal line with the punched month y November, indicates the date of maturity c6 ofthe iirst interest periodor the next one following fthe date'of issue, the date of the f month being thesame in both months.

yThere the arrangement is made for a quar- `terly interest period the unehing of the 5,5 date November 9, would indicate the succeeding dates of maturity of interest periods as February, May, August, 'and November` these monthsy named being located on the same horizontal line where the four columns are used.

The,interest-ainoiiiit indicia is positioned below the date indicia, the line which divides the columns l and 5, extending through the inteiest amount indicia, thereby continuing .the columns through the interest amount indicia, these. columns, in the drawing, being indicated at A' and B, the particular arrangement of columns being employed for a particular purpose as presently described. The interest amount indicia is also divided by horizontal lines to group the number of columns of the month name indications, each group representing the incolumn indicated at A, are arranged the year indications indicated at 7, each year covering the group to which it appertains. llliasmuch as the upper year is intended to correspond with the year of issue of the certificate, these year indications are filled in at the time of issue, unless the number issued is` sufficient to justify their being printed in. At the right of the column headed B the groups are similarly divided to provide spaces in which punched indications inay be made, and in which spaces, suitable distinguishing indications may be employed, and which will vserve as a guide between the ,vertical column and the horizontal row in any one year or all of the years, the drawing indicating this particular line of spaces at 8,. and showing the distinguishing indications as' fand b', the distinguishing indication iny each group being smilarly arranged, in order that a proper reading of the indicia may bev had.

The columns of the interest amount indicia are adapted to contain permanent indications of interest amounts.- As heretofore ,pointed out, the amount indicated in the drawings are not based on a fixed oi constant rate, it, being preferred to-indieate a variation in rate for the purpose of showing the flexibility of the invention. These 4amounts,'in the drawings represent an ,in-

terest rate of two pei cent. per annum for .the first interest period of six.montlis, a

rateof three per cent. 'per annum for ythe .second period of six'months, and a rate of -and .the amount of interestl Will be found at the intersection of the column headed A Y With the-row indicated 41909, the amount being 2,5 interest'period matures 'and the amount of interest diieat ecaoie astliebasis, thehinterest amounts would be found in the horizontal rows Z9',

the month being positioned inthe column `indicated as B. AAs there are no turther interest eriods maturingfin the year 1907, the first interest eriod matures in` 1908, and the amount is ound'at the intersection of the column A 'i ythe -year 1908, the amount 10 vmaturity of this period would be May '1908,the name of this monthvl occurrin in" 'terest v now.. changes to .three per centi,` "vvhenthe next interest period matures,

with the rowjindicated as bin the gro-up of 351.00 (the certicate being presumed to repn resent the deposit ot$100.00) the date of 9i the column indicated asv A. The rate of iiiand . column B, 'and the roviT b" of the year 1908.

interest amounts for the two periods in 1910 would be found at the intersection of the A and B successively and as a `1n the succeeding years.

` .cation, a safe-guard The 'next period matures on May 9, 1909,

as b underthe year $6.00, which is based on a four per cent. interest rate; .the next on November 9, 1909, that time is indicated as.$8.00, found at the iiitersec ltion of the column headed B with the rovv indicated las t under the yyear 1909. The

columns A' and B -vvith the roW b under the year 1910.v Were thedate of issue to be locatedin the first column (that indicatedas A) the first :interest periodvvould bein the same year, thereby makin use of the upper row of the amount indicia indicated as a', the succeedingperiods having their amounts indicated at the'inte-rsection of tlie'columns theroWs indicated If desired,

the proper indication in the column indi'- cated as A, may be punched althouvh this needtnot be done. By. punching eac 'indi-- is provided, since it would require more manipulation tochange the indicia. l

As will be seen, the interest amount indicia provides a fixed indication of interest amount due atany one of a plurality of successive interest periods, at maturity of any of which lthe certificate may be taken up,

- 4and redeemed by lthepaymcnt of the prininstrument isa ne y Will indicate the linterest` lvalue'of the certificate at any intermediate period, and enabling an equitable transfer ot- Without redemption.

cipal and the interest then due. And as the gotiable one,;tliis interest amount indicia the certificate from one party to another understood, the instrument is not suitable tor use'vvhere interest is payable at the end of each-interest period Without surrenderl the certificate, the certificate requiring its indicated being ,Nog vember 91908,` the. amount of interest due is $3.00 as indicated by they intersection of being surrendered and redeemedvvhen interest payments are made. Y

As will be readily understood, vthe indicia, `and particularly that'otl the month, serves. as an indexv to the amount indicia, the

this result. Y u y Having thus described my invention, What ters Patent is u 1. An interest bearing certiiicate `of obligation having date and interest 'amount in-` dicia, the famount indicia comprising adjaamou1its,`the indicationsot` each column being dividedinto groups, each group covering a time interval of definitel length, the time intervalstcorresponding in position in each column, indicate the particular amount indication covering the group.

2. An interest bearing certificate ot oblil dicia ot successive groups As Will be readily gation having date and interest amount indicia, the amount indicia comprisin adja- 'cent `columns ot tixedindications ot interest gation having date and interest amountindicia,

ing divided into.. groups, time interval of a definite length, the time intervals corresponding-*in'position in each column, a month indicia positioned with respect to the amount indiciato form one por.- tion of an4 indexv to indicate a-selected co1- umn of the amount indicia, andan independent index indicia for each oup adaptselectiively/ indicate an individual 'interest lamount indication.: 4. An interest-bearingcertificate of obliicia, the date indicia including a predetermmed number of columns each contam- Ving successively', continued from one column to the next, each column containinor the interest amountindicia comprising columns extending inoontinuity with the mns, each amount ydate relative positions `otV thevtvvo providing for` l claim asnew `and desire to secure by 'Let- 4 cent columnsof fixed indications of `interest `and index indiciator each group to 3. An interest bearing certificate 'ot'oblif` ed to coperatewith'jtlie mont indicia to .ing successivelmonth names, said names bef,

column having xed in# u l u o amounts, the indications of each column beico 10b the amount indicia `comprising adja- Y cent columns oftixed indications of interest amounts, the indications of each column beeachcovering" a iio -ation-having date and interest amount mmonth namesof .a tixed interest perio the month coliao dications of the interest amounts due at successively increasing periods from the date of issue of the obligation.

5. An interest bearing certificate of 0b1igation having date and interest; amount indicia, the date indicia including a predetermined number of columns each contain'- ing successive month names, said names being successively Vcontinued from one column to the next, each column containing the month names of a Xed interest period, the interest amount indicia comprising columns i extending in continuity with the month columns, each amount column having Xed indications of the interest amounts due at successively increasing periods from the date of 'issue ofV the obligation, and index indications coperating with the month name indications to selectively indicate a predetermined interest amount indica-tion.

6. An interest bearing certificate of obligation having date and interest amount indicia, the amount indicia comprising adjacent columns of fixed indications of mterest amounts, the indications of adjacent columns being positioned in rows intersecting the columns at right angles, the indications of each column being divided into grou s, each covering a time interval of a definite length, the time intervals corresponding in position in each column, the individual amount indicia of the columns progressively increasing in amount with each row, the individual amount indiciaJ of a column in one row appearing in the preceding column of the succeeding row.

In witness whereof I have hereunto subscribed my name in the presence of two witnesses.

` JNO. EDW. HANZLIK.

Witnesses:

L. H. HANZLIK, J. S. HERLIHY. 

